Leicester firm snaps up SSAS portfolio

A Leicester-based SSAS administration and tax advisory service firm is set to take over a long-established portfolio previously managed by Standard Life.

WBR Group (WBR), an independent provider of SSAS administration and tax advisory services, has acquired Standard Life’s SSAS book of business – two decades after the two firms started working together.

Having administered the SSAS book for over 20 years, WBR will now take on a portfolio of 270 schemes, 246 properties – with £403m in assets under administration.

Trustee responsibilities will transfer from Standard Life Trustee Company to WBR Trustees.

Martin Tilley, director of WBR Group said: ” We are really pleased to have the opportunity to acquire the Standard Life SSAS book of business that we have administered under an outsourcing agreement for over 20 years. This is an unusual acquisition of a book we obviously know well. The clients will notice very little difference in the service other than having access to a wider range of investment options and potentially enhanced bank interest rates obtainable through our collective buying power.”

Jenny Holt, product director at Standard Life, part of Phoenix Group said: “The SSAS market is specialist and these clients can have complex business and retirement planning needs. Transferring schemes will benefit from the services and solutions of a provider focused on meeting these needs while also allowing us to focus on our core Workplace and Retail propositions.”